A Friend’s home loan had gone from 8.6% to 7.6% interest rate

He got an option to either reduce his EMI or reduce his tenure

He asked me what to do? Here is the answer - 1/n

Let’s look at his case. He has an outstanding 25L, 20-year tenure (17 years left), 8.6% interest rate previously, which is now 7.6%

He will pay a monthly EMI of 23359 Rs, a total interest of 22.65L, and a total repayment of 47.65L

Maruti hit a new lifetime high of Rs 16325 today

Various reasons –

- GST tax reduction for small cars from 28% to 18% - Made vehicles significantly more affordable
- Effect of Cut - "The response from customers has been phenomenal, something we haven't seen in the last 35 yrs 1/n

- On the very first day, we got 80000 enquiries, and have delivered 25,000+ cars (30,000 shortly)
- Since Sept 18, when they announced additional price reduction (above GST), they have received 75,000 bookings (15,000 bookings coming in every day - 50% higher than usual)

Balaji Wafers may sell a 10% stake to PE firms at a Rs 40000 Cr valuation

Balaji earlier got a buyout offer worth Rs 4000 Cr, but they declined! Today, they are getting the same offer for just 10%

A 10th-pass canteen worker built this potato wafers brand with just Rs 10000! Today, it is India’s second-largest chips brand behind Lays

Jubilant Foodworks' valuation is 43000 Cr

Balaji FY24 revenue - 5550 Cr
Jubilant FY24 revenue - 5655 Cr

Regional brands are killing it!

We have exploited the Earth's natural resources

Polymetallic nodules are considered a future resource due to their high concentrations of valuable metals

A thread on this alternate source that has the power to quench Humanity's material thirst for resources - 1/n

The story goes back to HMS Challenger and some strange-looking potato-sized lumps she dredged up from the bottom of the Pacific a century and a half ago

These dark, slightly crumbly stones, smooth on the top, rough on the bottom, later became known as polymetallic nodules

Madhapar is the richest village in Asia

Located in Gujarat's Kutch district, it boasts ₹7,000 Cr in FDs across 17 banks

That’s about ₹35–40 lakh per family on average—a staggering figure for a village!

Some Fun Facts - 1/n

Madhapar was an agricultural village, but as families migrated abroad, it transitioned to a more financially driven economy.

Many families in Madhapar hold multiple bank accounts, each with significant deposits. Some families are said to have bank balances of Rs 100+ Cr

Ather IPO opened today - I read the DRHP over the weekend

Capex when it's not needed, bad numbers, losing market share, amazing product, and a great team

A thread on Ather and this IPO, do retweet - 1/n

About Ather -

- Sells E-2Ws, software, charging infra, and smart accessories
- Battery packs made in-house
- Portable chargers/motors, Motor controllers, transmissions, DC-DC converters, harnesses, and chassis are designed by Ather, but manufacturing is outsourced

The biggest winner in the Ather IPO is IIT-Madras Incubation Cell (IITMIC)!

IITMIC + IITMS Rural holds 15.58 L shares in Ather, valued at 50 Cr!

Their cost is just 15- 29L (1 Rs considered for IITMIC, but could be lower too)

172x to 333x made in 11 years! That's amazing :) Forget Shark Tank, the real startup story is unfolding at IIT Madras Incubation Cell (IITMIC) in the IIT Madras Research Park

It has an 80% success rate with Startups!

I was there for an Investing conclave by TIA in Feb 2024 -

Reliance’s Jamnagar Refinery is an engineering marvel

It is the World's most complex and largest integrated, single-site refinery

It was the largest industrial investment made by an Indian enterprise at a single location

Some amazing facts on this Refinery - 1/n

History –

Twenty-five years ago, on December 28, 1999, RIL launched its first refinery at Jamnagar

Overnight, this turned India from a fuel deficit nation to a self-sufficient one and later into a surplus, exporting gasoline and gasoil to Europe and the US

Img - BS

I have read 170 books in the last 5 years – 18 in 2024, 38 books in 2023, 30 books in 2022, 50 in 2021 and 34 in 2020 (List of books of earlier years in the end)

List of all the books that I read in 2024 and my top 6 picks –

Books I read in 2024 – 1/n

1 - Behind Bars in Byculla: My Days in Prison by @JignaVora5 (Scoop series is based on the book)

2 – Cobalt Red: How the Blood of the Congo Powers Our Lives by @siddharthkara

India's biggest Solar PV modules Manufacturer and exporter Waaree Energy has opened up its IPO

With an installed capacity of 13.3 GW, it is more than 3x the size of Adani and bigger than the next 3 players combined!

Everything you need to know about the company and the IPO - 1/n

About the co. -

- Largest manufacturer and exporter of solar PV modules in India
- Total capacity of 13.3 GW (5.4 GW online soon), 21 GWe in FY27
- Has a PLI for 6 GW Ingot, Wafer, cell and Module manufacturing unit
- 5 manufacturing facilities in India (143+ Acres)

For decades, India’s toy market was dominated by imports. But recently, the narrative has turned upside down

India has become a net exporter of toys. Khilona bana Khalnayak?

The complete story – 1/n

Exports of the toy sector have witnessed a change 2020 onwards

The total exports of the toy sector were $224.3 million in 2020 and reached $304.8 million in 2023

Imports were $200 Mn in 2020 and reached $218 Mn in 2023 with imports undergoing a sharp decline

Having no bottles and no ovens reduced weight of Indigo planes and therefore costs

But those were not the only ways IndiGo has gone after shaving off load with a vengeance and continues to do so

Some really innovative ways through which Indigo saved money – 1/n

But do such small things matter?

An oven weighs 60 kg; four such ovens in the plane would lead to Rs 6000 worth of extra fuel per flight on avg.!

On the nearly seven lakh flights per year, a rough calculation pegs the savings of oven-less flights at Rs 400 Cr a year!

Bajaj Housing Finance (BHF) IPO opens Sept 9

It will be India’s most valuable Housing Finance company post-listing!

BHF Chairman said they could be the Future HDFC as there is an enormous opportunity in housing finance!

Everything you need to know about this IPO – 1/n

About BHF –

BHF is a non-deposit-taking Housing Finance Company ("HFC"), registered with the National Housing Bank ("NHB") since Sept 2015, and is engaged in mortgage lending since 2018

Identified and categorized as an "Upper Layer" NBFC by the RBI since Sept 2022

A company called Antony Waste (AW) handles 90% of Municipal Solid Waste in Mumbai!

It is Asia’s largest single-location waste processing plant situated in Mumbai’s Kanjurmarg

Some facts about the company and the industry – 1/n

AW was started in a garage, literally

In the 1960s, Jacob Ouseph and his brothers moved from Thrissur to Mumbai to start an auto workshop at Masjid Bunder for heavy vehicles.

Building the body over the chassis required skilled technicians, and the brothers fit the bill

Indigo is the Dmart of Indian Aviation!

Started in Aug 2006 with a single aircraft and has grown its fleet to 382 aircraft

From Market share of 8.9% in Sept 2007 to 62% in July 2024

How did they come to rule the Indian Skies? Also, an amazing story on their cost obsession – 1/n

Indigo Facts -

- A cost-obsessive airline that is true to its label of being a low-cost carrier (LCC)

- Most efficient Aviation LCC and 6th biggest carrier in the world

- Largest individual Asian airline with 10 Cr + passengers carried in 2023

A staggering 65,000 oil fields lie beneath the Earth’s surface, holding vast crude oil reservoirs

The Ghawar Field in Saudi Arabia is the largest oilfield in the world, with an estimated 17000 Cr barrels of original oil in place!

Why is it such an important site? A thread - 1/n

Discovered in 1948, this gargantuan field is estimated to have held a staggering 17000 Cr barrels of original oil in place

With over 8800 Cr barrels already produced, Ghawar continues to be a cornerstone of Saudi Arabia's oil dominance!

The World of Semiconductors is as unbelievable as it is complex

11 Semiconductor Facts that will surprise you!

A thread, do retweet :) 1/n

Fact 1 - Microchips/Semiconductors are in everything - Cars, smartphones, MRI scanners, robots, and data centers - And it all starts with sand!

Silicon chip wafers are made from sand - 2nd most abundant element on earth after O2

The largest battery maker in the world is a Chinese Company Called CATL

Most of us are unaware of the company and the crazy stuff they are doing

A thread on CATL, why it is disrupting the battery tech world, and how China is winning the EV race – 1/n

CATL doesn’t have a 100-year track record of reliability like Panasonic; it isn’t backed by Warren Buffett like BYD.

But in less than 10 years, Contemporary Amperex Technology Ltd, or CATL has become the world’s largest maker of lithium-ion batteries!

Korean car maker Hyundai Motor wants to sell around 17% of its Indian arm through an IPO.

This will be India’s biggest IPO ever!

Here are some thoughts on why this will be an important one to watch - 1/n

The Big daddy of all Indian IPOs -

- This will be India’s biggest IPO after LIC’s Rs 21008 Cr IPO
- They are planning to raise Rs 25,000 Cr (around $3 billion) at a valuation of Rs 1.5 Lakh Cr/18 Bn $ (as per reports even 20-25 Bn $ valuation on cards)

Eldercare is an exciting theme playing out in India

India’s elderly population (aged 60 Yrs and above) of ~14.5 Cr people is growing - both in population size and wallet size!

A thread on the sector's attractiveness, do retweet - 1/n

- Fastest growing age group in India – from 14 Cr (8% of the population) to 20% by 2050
- Expected demand for senior residences is expected to be 12X of current supply
- Elderly population to grow by 40% in 2021-31 v/s 8% growth for the General population

Personal Finance Hack for those who own a Housing Loan –

How one extra EMI per year leads to savings - 1/n

Case Study -

Housing Loan Value - Rs 50,00,000/-

Interest rate – 8.75%

Tenure 30 Years

The loan will finish in 30 years